The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5% following the conclusion of its 305th meeting held in Abuja.
Naija News understands that all 11 members of the committee attended the meeting, where discussions centred on inflation trends, lending conditions, and the overall performance of the Nigerian economy.
CBN Governor, Olayemi Cardoso, announced the decision at the end of the meeting on Wednesday.
In addition to retaining the benchmark interest rate, the committee also left all other key monetary policy parameters unchanged, signalling the apex bank’s decision to maintain its current strategy aimed at controlling inflation and preserving financial stability.
The latest decision follows the bank’s earlier move to cut the rate by 50 basis points in February 2026 before subsequently retaining it during its November 2025 meeting.
Meanwhile, the Central Bank of Nigeria has also unveiled the Nigerian Overnight Financing Rate, a new benchmark designed for the country’s money market to improve transparency and strengthen the effectiveness of monetary policy transmission.
The development was disclosed in a statement issued by the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali.
According to the apex bank, the initiative was introduced in partnership with the Financial Markets Dealers Association as part of efforts to deepen and modernise Nigeria’s financial system.
The statement read, “The Central Bank of Nigeria, in collaboration with the Financial Markets Dealers Association, today announced the introduction of the Nigerian Overnight Financing Rate, a standardised benchmark aimed at enhancing transparency, strengthening monetary policy transmission, and deepening Nigeria’s money market.”